Are you sure?

OTP venture capital unit invests more than HUF 1.3bn in five companies

Venture capital fund PortfoLion invested a total of HUF 1.355 billion in five companies in 2010, the fund's owner OTP Bank told MTI.

PortfoLion invested HUF 220 million in Cryo Management, a biotechnology company specialising in human and animal reproductive science; HUF 350 million in 3G Multimedia, an IT company whose media player recommends and manages digital music; HUF 400m in Intellio, which develops video monitoring systems; HUF 185 million in Digital Recognitions Systems Hungary, whose products recognise licence plates; and HUF 200 million in Stringdrive, the developer of the Stringbike chainless bicycle.

OTP Bank bought 80% of PortfoLion in February 2010 and raised its stake to 100% in the autumn. (MTI Econews)